Hemostemix Provides Corporate Update and Clarification

CALGARY, Alberta, Jan. 26, 2020 (GLOBE NEWSWIRE) -- Hemostemix Inc. ("Hemostemix" or the "Company") (TSXV: HEM; OTC: HMTXF) provides the following corporate update and clarification of previous disclosure.

Retraction:

The Company hereby retracts disclosure made by the Company in its January 2020 corporate presentations circulated by the Company as these presentations included several incorrect statements with respect to the number of patients treated, and the Company's CLI clinical trial size. The correct number of patients treated and CLI clinical trial size are as follows:

ACP-01 has been used to treat over 300 patients, including on a compassionate basis and to no-option heart disease patients.  The current CLI trial size remains at 95 patients.  The Company anticipates that it will conduct a futility analysis for potentially stopping enrolment in the clinical trial when 42 subjects have completed at least 26 weeks of follow-up.

Management:

The Company would also like to announce that Dr. Alan Jacobs has resigned from the position of Chief Medical Officer and President of the Company.

ABOUT HEMOSTEMIX INC.

Hemostemix is a publicly traded autologous stem cell therapy company, founded in 2003. A winner of the World Economic Forum Technology Pioneer Award, the Company developed and is commercializing its lead product ACP-01 for the treatment of CLI, PAD, Angina, Ischemic Cardiomyopathy, Dilated Cardiomyopathy and other heart conditions. ACP-01 has been used to treat over 300 patients, including no-option end-stage heart disease patients.  ACP-01 has been the subject of several completed clinical studies which were conducted to prove its safety and efficacy. For example, patient #35, who at age 69 was given six months to live before his treatment November 2, 2005, celebrated his 14^th post treatment anniversary in November 2019.

On October 21, 2019, the Company announced the results from its presentation from its Phase II CLI trial abstract presentation entitled "Autologous Stem Cell Treatment for CLI Patients with No Revascularization Options: An Update of the Hemostemix ACP-01 Trial With 4.5 Year Followup" which noted healing of ulcers and resolution of ischemic rest pain occurred in 83% of patients, with outcomes maintained for up to 4.5 years.  The Company's clinical trial for CLI is ongoing at 20 clinical sites in North America and 56 of 95 subjects have been enrolled to-date.

The Company owns 91 patents across five patent families titled: Regulating Stem Cells, In Vitro Techniques for use with Stem Cells, Production from Blood of Cells of Neural Lineage, and Automated Cell Therapy.   For more information, please visit www.hemostemix.com.   

Contact:

Bryson Goodwin, CEO or Thomas Smeenk, President
Suite 1150, 707 ? 7^th Avenue S.W.
Calgary, Alberta T2P 3H6
BG: 604-341-1531 or TS: 905-580-4170

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined under the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This release may contain forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential," and similar expressions, or that events or conditions "will," "would," "may," "could," or "should" occur. Although Hemostemix believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of Hemostemix management on the date such statements were made. By their nature forward-looking statements are subject to known and unknown risks, uncertainties, and other factors which may cause actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the Company's ability to fund operations and access the capital required to continue operations, the Company's stage of development, the ability to complete its current CLI clinical trial, complete a futility analysis and the results of such, future clinical trials and results, long-term capital requirements and future developments in the Company's markets and the markets in which it expects to compete, risks associated with its strategic alliances and the impact of entering new markets on the Company's operations. Each factor should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. Hemostemix expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events, or otherwise. Additional information identifying risks and uncertainties are contained in the Company's filing with the Canadian securities regulators, which filings are available at www.sedar.com.